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Feb 22, 2013
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the economy is not necessarily going to tank. it will suffer. >> suffer, tank, not good. still not good. >> not good. we'll agree on that. the prediction is, as john said, the forcing event is not this next -- this march 1st date. it's the march 27 date which is when the govern in the right after that runs out of money and that's when the day after that no government workers will be -- >> usual leap they pass a continuing resolution. a cr, as it is called. >> right. but we probably have to get some sort of an agreement on all of these things before then to kick the can down the road a little bit. that's the expectation both in the white house and on capitol hill. so maybe a short-term deal will be worked out but the problem is a short-term deal is how we got to this problem in the first place. >> so you have a politics that's so dysfunctional that you have to depend on disruption of government services in order to get people to actually do their jobs. it's ridiculous. >> john, before i let you go, walk us through. what's going to happen? assuming that these forced spendin
the economy is not necessarily going to tank. it will suffer. >> suffer, tank, not good. still not good. >> not good. we'll agree on that. the prediction is, as john said, the forcing event is not this next -- this march 1st date. it's the march 27 date which is when the govern in the right after that runs out of money and that's when the day after that no government workers will be -- >> usual leap they pass a continuing resolution. a cr, as it is called. >> right. but...
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Feb 20, 2013
02/13
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tossed out of classrooms, health services will be slashed, border security will be compromised and the economy will take a hit if forced budgets cuts begin to happen on march 1st and the obama administration says republicans will be to blame. >> the pleas that the republicans are making are throw these people out of work. it's just -- it makes no sense. >> reporter: but when pressed on whether the president has his own plan to stop the cuts, white house press secretary jay carney pointed to the grand bargain mr. obama failed to reach with house speaker john boehner two careers ago. >> when you ask where's the president's plan, it's been there. it's at whitehouse.gov. >> a budget plan for the long term, where is -- >> the president -- >> the president take the lead and -- >> first of all, congress has to act. >> reporter: less than two months since the fiscal cliff that resulted in tax increases on wealthy americans. boehner notes the idea for the automatic cuts originated in the white house adding mr. president, we agree that your sequester is bad policy. what spending are you willing to cut t
tossed out of classrooms, health services will be slashed, border security will be compromised and the economy will take a hit if forced budgets cuts begin to happen on march 1st and the obama administration says republicans will be to blame. >> the pleas that the republicans are making are throw these people out of work. it's just -- it makes no sense. >> reporter: but when pressed on whether the president has his own plan to stop the cuts, white house press secretary jay carney...
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Feb 21, 2013
02/13
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economy. >> people are uncertain. in the case of the broader u.s. economy, higher gas pricese, delays on tax returns, means if you got less money in your pocket, you're spending it differently. your discretionary spending is pulling back. the extra things you're pulling back on and what it tells us about those businesses who shop at sam' club or walmart is that they are keeping less inventory on hand, buying smaller amounts of things because they are uncertain about what is going to happen. are the forced budgets cuts that we're going to be discussing next week, are they going to have an effect on what people are spending? it tells you a story of uncertainty. it's almost the new normal. small businesses are uncertain. individuals who earn a little less than average are uncertain and that's what walmart is telling us. >> excellent explanation. ali, thank you for joining us. >> always a pleasure. >>> coming up, who needs a smartphone. google introduced smart glasses so you can search the internet without even looking down. stay with us. you're in "the
economy. >> people are uncertain. in the case of the broader u.s. economy, higher gas pricese, delays on tax returns, means if you got less money in your pocket, you're spending it differently. your discretionary spending is pulling back. the extra things you're pulling back on and what it tells us about those businesses who shop at sam' club or walmart is that they are keeping less inventory on hand, buying smaller amounts of things because they are uncertain about what is going to...
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Feb 19, 2013
02/13
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threat of these cuts not well thought through, not smart, not fair, hurt our economy. this is not an abstraction. people will lose their jobs. >> that's a shortened version of what the president had to say. let's go in depth with our chief white house correspondent, jessica yellin, who is here. this is a big issue right now. >> it really is, wolf. and it's just ten days now until these forced budget cuts go into effect. top administration officials tell me, if that happens, the president believes the politics are on his side. with congress out of town, president obama took to the bully pulpit, warning about the effects of forced spending cuts that hit every part of government next friday. >> there is a smarter way to do this, to reduce our deficits without harming our economy. >> reporter: he's talking about more than $1 trillion in painful cuts that can still be avoided if congress reaches agreement on deficit reduction. the package of cuts came from the 2011 debt ceiling deal, and it was never meant to go into effect. during the presidential campaign, mr. obama said
threat of these cuts not well thought through, not smart, not fair, hurt our economy. this is not an abstraction. people will lose their jobs. >> that's a shortened version of what the president had to say. let's go in depth with our chief white house correspondent, jessica yellin, who is here. this is a big issue right now. >> it really is, wolf. and it's just ten days now until these forced budget cuts go into effect. top administration officials tell me, if that happens, the...
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Feb 18, 2013
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. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. >>> senator john mccain's been pressing almost everyone from the military's top brass to the white house for answers about last september's dead lei taly on the u.s. consulate in benghazi, libya. now he's accusing the obama administration, i'm quoting him now, of a, quote, massive cover-up. let's bring in our pentagon correspondent barbara starr. she's working this story for us. how those are pretty stinging and strong words, barbara. >> reporter: absolutely, wolf. you know, the whole benghazi situation has already led to delays in confirming some of president obama's key appointees. chuck hagel at defense, john brennan at the cia, and now senator
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. >>> senator john mccain's been pressing almost everyone...